HR 7790
To amend the Internal Revenue Code of 1986 to repeal chapter 35 (relating to taxes on wagering).
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill seeks to eliminate the federal excise tax on wagering, which includes gambling activities like lotteries, horse racing, and casinos. It proposes to repeal Chapter 35 of the Internal Revenue Code, specifically addressing the tax regulations related to these forms of gambling. The change would remove the current tax burden associated with wagering activities. The effective date of this repeal is set for taxable years beginning after December 31, 2019.
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Primary sponsor
Cosponsors
Anthony G. Brown
Eliot L. Engel
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